On April 12, 2012, Caesars Entertainment Corporation (Nasdaq: CZR) entered into an Equity Distribution Agreement with Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC , as sales agent and/or principal, pursuant to which the Company may issue and sell up to 10,000,000 shares of the Company’s common stock from time to time.

Sales of the Shares, if any, made under the Distribution Agreement will be made by means of ordinary brokers’ transactions, in block transactions, or as otherwise agreed upon by the Manager and the Company. The Shares have been registered under the Securities Act of 1933, as amended, pursuant to a Registration Statement on Form S-3 (Registration No. 333-180115) of the Company, as supplemented by the Prospectus Supplement dated April 12, 2012 relating to the Shares, filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on April 12, 2012.